Ether mining is a great way to decentralize record-keeping as much as possible. It also reduces the possibility of someone cheating the system and getting an advantage against other miners. All miners of a particular cryptocurrency must agree on the transaction history while preventing fraud from taking place.

The blockchain technology underlying the mining process ensures that things like double spending of ethers or other cryptocurrencies does not occur.

Ethereum is not the typical cryptocurrency like, for example, Bitcoin. Rather, Ethereum is a blockchain platform that primarily has the purpose to allow the creation and management of smart contracts and distributed applications.

The cryptocurrency that is used to fuel the Ethereum network is called Ether.

In this sense, Ether is no different from the other cryptocurrencies, but, before we get into it, let’s briefly see what are smart contracts and distributed applications which can be created on the Ethereum platform.

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